Governor Babajide Sanwo-Olu of Lagos on Tuesday ordered that the transport fare for BRT buses in the state be reverted to 100 per cent on Saturday.
Peoples Gazette had earlier reported that passengers of BRT buses will enjoy a 50 per cent slash due to cash scarcity.
Mr Sanwo-Olu made the announcement in a statement issued on Wednesday.
He said the directive will take effect on Saturday, April 1, thereby passengers will be paying 100 per cent bus charges.
The governor said his decision was based on the apex court ruling that old and new naira notes are still effective for transactions till December 31.
“With effect from Saturday, 1st April, bus fare on all regulated buses – BRT, Standard and FLM-shall revert to 100 per cent rate,” the statement said.
“Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, had on Wednesday, 8th February 2023 approved a 50% slash in bus fares following the cash crunch brought about by the recent currency swap.
“Following the Supreme Court and Federal Government’s pronouncements on the use of old notes alongside the new notes and return of stability to the system, the 50% rebate is hereby discontinued.
“Consequently, bus fares return to pre-50% slash rate effective Saturday, 1st April 2023. Thank you for your understanding.”
Barely one week after the CBN directed banks to issue old notes to Nigerians, Mr Sanwo-Olu reverted the prices to 100 per cent.
Mr Sanwo-Olu gave the directive for the 50 per cent slash in transport fare some weeks before the election, and reverted the price after winning the election.